Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1887-05-27

rotary. The Secretary read the following
ANNUAL REPORT OF THE PRESIDENT.
To the Stockholders Of the. East augusta
Mutual Insurance Company
GENTLEMEN-It has been permitted US
by a superior power to convene again at
the expiration Of another year, and for
the great privilege vouchsafed to US of as
sembllng here for the purpose of discussing
and celebrating upon topics best suited
to foster the interests and objects of this
Association. and for the kindly dealings Of
Time with the most of US, we should ever
feel grateful; more especially SO when alb
sent faces speak too plainly the solemn
warning that sooner or later the places
that know us shall know US no more.
REMARKABLY LOW RATE OF
INSURANCE..
With your very kind indulgence, I re-
spectfuly submit this, the 18th annual re-
port and in connection Will say that our
losses for the fiscal year have aggregated
less than those of the previous year by
Three cents per share of stock. The cost
to policy holders on account of fires, Pres
dents allowance, Secretary's salary. Incl
dental expenses, &C., being Twenty-Four
cents per share. Upon computation you
will find this to be of per cent.-or
more than 1 per cent. less than the cheap
est Of the Old Line Insurance companies
or cost 81 80 on 81 900, and proportion
ateJy for greater or smaller amount.
LEvIEs OF THE YEAR.
There have teen four levies this year.
viz:
The first was levy of cents per share
for the losses of Isaac W. Airey's dwelling,
insured for $500, burned July 1st, 1885,
and Daniel M. Bells barn, insured at
$500, burned July II. 1886. Thirty three
tickets were returned on account of non
payment of this levy, aggregating $37 81.
The second levy was cents per share,
and made in behalf of the loss of DE-,
Taylor's barn, insured at 1876, burned
Oct. 2, 1886. Fourteen tickets returned
on account of non payment of this levy,
aggregating $13,16,
The third levy of 10 cents per share was
for the losses sustained respectively by S.
Brown Allen on his dwelling insured at
$1,000, burned January 5, 1887; and the
dwelling owned by Mrs. Susan Flory's
heirs, insured at $500, burned Januarp
25th, 1887, Twenty-eight tickets were
returned on account of non payment OF
this levy, aggregating $3.50
The fourth, and last levy of cents per
share was made to settle balance due tbs
following persons for losses and dama.gs
by tire, tc-wlt: A. A. Sprouts stable, corr
crib aud granary, insured at $500 and
burned Feb. 9th, 1881; b. F. Houff for
damage to dwelling, 500, Feb. "a, 1887; H.
2. Dlckerson damage to tenant house, $50:
March H. 1887, and Samuel Cook for dam
age to dwelling. 1886, April 9Th, 1887.
This levy also included some incidental
expenses that had to be adjusted. TWEEN
ty tickets were returned on account of
non-payment of this levy, aggregating
$25.
THE LOSSES.
The above items show the total amount
of losses and damages by fire to be So 1861 :
66, aggregate amount of unpaid tickets,
$129 ,43.
JUDGMENT AGAINST THE COMPANY
PAID,
During the term of the Circuit Conrt
November, 1886, Thos. A. Brownlee oh.
tanned judgment against this company
for $276.S5, for the loss of his barn. paw
ment having been refused him on technical
grounds. The amount of that judgment
was paid out of surplus fund in the
hands of the Treasurer, and no assessment,
was made.
STATISTICS OF THE YEARS WORK.
GROSS amount of prop
perty insured. ...... S AZ SIS 0fs
Net increase Of liabili-
LIES. 20 5S4 00
Amount OF premium
receipts. ............ Cd Al
Increase of shares. -. ST.
Number of new mem
bars admitted .... 50
Number of tickets re-
turned for non-pay-
ment of dues and
which worked a for
feiture of membership 95
Decrease of liabilities
on account of deaths,
removals, and expul-
slons for non pay
:, menS .'... :: SO, 200 90
Decrease Of liabilities
in excess of increase an o1e m
Total gross valuation
OF insured property. ee1 Az7 M
Total amount of net
liabilities. ....... I 1oo oos M
Total number of shares
VI SUCK. ........>.. 22419
Total number of stock
Aoioeio ............. S34
ANNUAL OFFICIAL EXPENSES
PRESIDENTS allowance, $780, Secretaries
salary, sl25; Board OF Directors for cor
Wees Se4 25; printing, including posta,
cards, tickets, &C., sos 35-total. sas7 eo
DEATHS FOR THE YEAR
we are called upon to chronicle the fol-
| owing list of stockholders who have ,7iad
during the year: eN
g. a. Hoshour, Mrs. Christian WRIGHT
VIM. ii. Shirley, James &. Bosb Isa.a
Baker, Mary S. Ruebush, Lewis Whit
more, and B. F. Pierce.
Respectfully submitted.
j. ToWBERMAN,
President
TREAsURER's REPORT,
Inc report of John Firebaugb, ESQ
me treasurer, was submitted and showed
balance due to Treasurer of $13 90
On motion, the Chair appointed Messrs,
J. w. Churchman, 7. N. Powell and